PIDM is governed by a Board of Directors (Board), drawn from the public and private sectors who are appointed by the Minister of Finance. The Board is responsible for the conduct of the business and affairs of PIDM. A non-executive Chairman heads the Board. Under the PIDM Act, the Chairman must have relevant private sector experience. There are two ex officio Directors, namely, the Governor of Bank Negara Malaysia and the Secretary General of the Treasury, Ministry of Finance.
PIDM protects your deposits in the bank as well as your takaful and insurance benefits in the unlikely event of a failure of a member bank or a takaful operator / insurance company.